Rumors of Devaluation of Israeli Currency Officially Denied

“There is no foundation to the rumors that the government is preparing to devalue the Israeli pound,” the chairman of the finance committee of the Israeli Parliament announced today, in the absence of Finance Minister Eliezer Kaplan who is indisposed. “The Cabinet has not even discussed such a measure,” he reported to Parliament.

The rumors apparently originate from the fact that the Government is preparing to replace the present Israeli pound note with a new one–the only change being that the currency will indicate that it is issued by the Israel National Bank Instead of the Anglo-Palestine Bank, which has officially changed its name to the Israel National Bank.